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I just purchased an used 2001 V70 T5 at 46K miles for my wife. Have had it for less than 1K miles so I can't tell about repairs yet. From tuneup costs and reading this forum, I realize owning the Volvo is going to be a bit more expensive than the Japanese cars.
But I can share my opinion regarding how the V70 drives. I drive a 2000 Honda Accord 4 cylinder automatic. Our V70 doesn't come close to the handling of the Accord. I also just purchased a 2003 Subaru Outback for my mother in law and it also handles much better than the V70. Of course, the Outback is AWD while my V70 is only FWD. I personally find our V70's steering imprecise as compared to my Accord and the new Outback. The brakes seems very sensitive. So you go from not braking at all to braking hard with slight difference in pressure applied on the brake peddle. My wife test drove a 2.4 and said it has no power.
In terms of quietness, I don't think our V70 is all that quiet. When I sit on the passenger front seats, I am able to hear some wind noises even during none highway speeds. The dash and the glove compartment door has some minor rattles.
Even though I got the 247HP T5, power only seems reasonable but there isn't much at the low end of the RPM. I don't really feel any turbo lag. My 2000 Accord's VTEC 4 cyclinder seems to pack more punch off the line. The 4 cylinder Subaru Outback also seems to have more off the line. But I'm not an aggressive driver so I'm not pushing any of the cars too hard at all times.
In terms of comfort, I feel tighter in the V70 (I'm 5-10) than either the Accord or the Outback. The leather seats seems to hug your body well. But I personally find the V70's leather seat tend not let your back "breath" as well as my Accord's cloth seats. This maybe just a difference between cloth and leather for me personally rather than anything V70 specific. T5's ride is tighter and harsher than the Outback. Maybe the 2.4 and 2.4Ts are smoother rides. I'm not sure.
Regarding safty, I can't really judge except for the spec of the safty equipment. Dual front and in seat side air bags + air curtains covering all 4 passenger windows.
But I can't complain as my wife loves the Volvo for its image. She has already announced to me that her next car is a Volvo also. If the wife is happy, then I am happy :-)
Hope this helps. I know many people loves Volvo on this site and I certainly enjoy owning our Volvo for just a brief period of time. Just trying to answer your question honestly as you seems to be seeking a better ride than your 99.
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